The rumored fact is finally going to turn true. Coinbase, as per their last statements, will acquire Deribit soon. Deribit, FYI, is a crypto derivatives exchange platform popular for the options it offers. However, the platform is also reputed for futures trading for ETH and BTC.
It provides a promising range of derivative elements, including futures and perpetual swaps. Hence, users can trade all these assets with significant leverage. So far, Deribit is thought to be one of the market leaders. Thus, there will be a strong focus on institutional investors and professional traders.
Deribit is now headquartered in Dubai, so the strategic collaboration between them and CoinBase is going to be iconic. However, there has been a major issue with Deribit so far. The platform was not associated with any financial authority, so it is not regulated. Unless strict standards apply to it, mass-scale investors might not be ready to invest in it.
The Recent Development
Deribit was gaining strong traction, so a popular platform like CoinBase came up with the idea to adopt it. As rumored, CoinBase will soon complete its $2.9 billion deal with them.
However, what’s driving this collaboration?
CoinBase is one of the biggest opportunities for spreading globally. They might now be targeting the Dubai-based market, incorporating the span of all the GCC countries. However, Deribit will also enjoy a regulatory standard when it works with CoinBase. We’ll have to check how the collaboration turns out for the market!
